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Nigeria

Nigerian Internet Sensation Uses Fame To Give A Voice To African Artists

Using the people of his Lagos community as subjects, Nigerian painter Oresegun Olumide creates oil paintings that are so realistic, they have become a viral sensation. His Instagram account has 15,000-plus followers and social media have helped his career in an environment where art is considered a luxury and the government is too strapped to support the arts. Born in Ikorodu, Olumide, 35, started painting when he was just 4. He went on to study fine art at Yaba College of Technology in Yaba, Lagos. By 2005 Olumide had launched his professional art career. Today, he owns an art studio in Lagos, selling and showcasing his work.

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Nigeria Reclaims Africa's Top Oil Producer Spot

Nigeria may have reclaimed its position as Africa's top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before the January 2017 planned production cut agreed by OPEC and non-OPEC producers. Angola would be expected to cut about 78,000 barrels per day (bd) of its production in the agreement which was sealed in late 2016.

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IMF Revises Nigeria's Growth Projections Upwards

The International Monetary Fund has said it expects Nigeria’s economy to recover in 2016 even as it revised upward the growth projections for the country to 0.8 per cent based on higher oil production as well as likely improved price of crude at the international market. The IMF in its World Economic Outlook update released yesterday said economic activities in both advanced economies and Emerging Markets and Developing Economies (EMDEs) is forecast to accelerate in 2017 and 2018, with global growth projected to be 3.4 percent and 3.6 percent, respectively, unchanged from its October forecasts.

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Nigeria: Diaspora Remittance Hits U.S.$35 Billion in 2016

Remittance from Nigerians living abroad to the economy has hit $35 billion in 2016, Senior Special Assistant to the president on Foreign Affairs and the Diaspora, Mrs. Abike Dabiri-Erewa has said. She sated this yesterday in Abuja when she paid a courtesy call on the Chairman, Federal Inland Revenue Service (FIRS) Tunde Fowler. She said she was on the visit to seek ways Nigerians in diaspora can get tax incentives to encourage them to invest more locally.

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